Yang Ming Marine Transport chairman Chuck Tsai Feng-ming said that the US-Israel-Iran war and the closure of the Strait of Hormuz, has brought forward the long-haul peak season from 3Q to this month.
Speaking at the Taipei Shipowners’ Association’s annual meeting, Tsai said: “We’re seeing bookings coming in for this month, and we see a recovery in cargo volumes. Therefore we believe that the container shipping market has entered the peak season ahead of schedule. Coupled with high oil prices, mainline operators are bound to raise freight rates starting in May to reflect rising costs.”
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